Destination Hotels & Resorts to Manage Historic Hotel Del Coronado; More Than $50 Million to be Invested in Capital Improvements.CORONADO, Calif.--(BUSINESS WIRE)--Aug. 28, 1997--Destination Hotels & Resorts today begins its management of Southern California's 109-year-old, legendary Hotel del Coronado The Hotel del Coronado is a luxury hotel in the City of Coronado, just across the San Diego Bay from San Diego, California. It is one of the few surviving examples of an American architectural genre: the wooden Victorian beach resort. and has emphasized its commitment to capital improvements that maintain and preserve the heritage of this jewel property. Officials announced that Lowe Enterprises Investment Management, Inc., acting on behalf of one of its several pension fund clients, acquired the 692-room landmark hotel Hotels called the Landmark Hotel, or something similar, include:
"The Hotel del Coronado is an important addition to the portfolio of unique, world-class destinations DH&R operates across the country and reflects our strategy of investing in first-class, full-service hotels and resorts," said Bob Lowe, chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Lowe Enterprises. "We are pleased to be entrusted with this magnificent treasure and are committed to preserving its history and enhancing its future." Under DH&R's management, more than $50 million over the next five years will be invested in capital improvements to the Hotel del Coronado to enhance the quality of guest rooms, meeting spaces and public areas. Management Philosophy DH&R's management philosophy is to emphasize local management of its hotels and resorts. Properties are run autonomously to maximize revenue and provide the community and resort guests exactly what they need, when they need it. "Destination Hotels & Resorts has a track record of creating higher levels of efficiency and service by investing in the people as well as the property, often increasing the total number of staff employed to provide our guests the best experience possible," said Tom Goodwin Community Commitment DH&R and Lowe officials are also briefing community leaders today to ensure they understand DH&R's plans for the hotel, its commitment to preserving the quality and the long-term relationship DH&R wants to establish with the local community. "The Hotel del Coronado has long been an important element of community life in Coronado and San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. ," said John Platt Dr John Platt is a senior researcher in the Knowledge Tools Group at Microsoft Corporation. Platt has worked for Microsoft since 1997. Prior to Microsoft, Platt had served as Director of Research at Synaptics. , president and CEO of Destination Hotels & Resorts. "DH&R plans to partner and develop long-term relationships with local businesses and community organizations to attract more visitors to the area and to contribute to the community as a whole." DH&R manages hotel properties nationwide, including The Ritz-Carlton, Huntington Hotel Huntington Hotel may refer to:
Inverness (ĭn'vərnĕs`), town (1991 pop. 39,736), Highland, N Scotland, on the Moray Firth at the mouth of the Ness River. Hotel & Golf Club near Denver, Oak Brook Hills Hotel & Resort near Chicago and Wild Dunes Wild Dunes is an oceanfront resort on Isle of Palms, South Carolina, USA. It is 1600 acres on the north end of the island. Wild Dunes has two famous golf courses on it: the Wild Dunes Links Course, and the Harbor Course, both designed by Tom Fazio. Resort in Charleston, S.C. Each property has a distinctive location and exceptional recreational opportunities and conference facilities. Background The Hotel del Coronado is located on Coronado Island, a 13-square-mile peninsula just minutes from downtown San Diego. Originally constructed in 1888, "The Del" is listed on both the national and San Diego registers of historic places. The world-renowned resort has been host to an illustrious list of presidents, dignitaries and Hollywood luminaries as well as corporate and society leaders. Lowe Enterprises is a national real estate investment, management and development firm headquartered in Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. . Lowe Enterprises Investment Management, Inc., the firm's investment advisory subsidiary, currently manages more than $1.5 billion in real estate assets on behalf of its pension fund clients. Destination Hotels & Resorts, the hospitality subsidiary of Lowe Enterprises, manages 23 distinctive properties with more than 8,000 guest rooms and 11 golf courses nationwide. You can visit DH&R's properties online at www.destinationtravel.com. CONTACT: JohnstonWells Allison McGee Johnson or Kirsten Ritter rit·ter n. pl. ritter A knight. [German, from Middle High German riter, from Middle Dutch ridder, from r 303/623-3366 or 303/902-0114 Lowe Enterprises Jann Diehl, 310/820-6661 or 619/435-6611 DH&R, Coronado Andy Scantland, 303/799-3830 or 619/435-6611 |
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